Halifax Economy Weathers Pandemic Better Than Any Other Major Canadian City
The city’s CAO and leaders from the Halifax Partnership gave an economic update to Halifax Regional Council this week — and it contained a fair amount of good news.
Jacques Dubé told council the city’s GDP contracted by 1.9 percent in 2020. That’s the lowest among major Canadian cities.
And projections show a strong GDP rebound is coming.
Dubé said Halifax’s GDP is expected to grow by 5.7 percent by the end of 2021, and then return to a “more normal” range of about 2 percent in the ensuing years.
The city also did very well attracting new residents during the pandemic.
Population growth in Halifax was down between July 2019 and June 2020 but only compared to the record-breaking previous year.
The period from 2019 to 2020 saw the city hit its second-highest level of population growth ever, driven largely by immigration. …[Read More]